In today’s competitive real estate world, most property developers in Nigeria are thriving to build sustainably. Recently, residents of Lekki Pearl Garden, a residential estate will save more money following the EDGE certification issued to the management of the estate by the International Finance Corporation (IFC), a member of the World Bank Group.
EDGE is a green building certification system that empowers the Nigerian real estate market to build sustainably and measure energy and water-saving options in such a way that it improves building performance at little or no cost.
According to Temilola Sonola, IFC representative and Operations Analyst, during the presentation of EDGE Advance Certificate to Alpha Mead Development Company (AMDC) – the developer of Lekki Pearl Estate – at the company’s office in Lagos, the current and future owners of Lekki Pearl Estate will save 40 per cent on electrical bills and 30 per cent on water consumption.
Sonola said IFC is working with developers to provide green buildings in over 170 countries, adding that Alpha Mead is one of the pioneers of the EDGE Advanced Certification in Nigeria.
“Green buildings are inherently advantageous for both developers and customers in the long run, and a study also demonstrates that owners of green buildings are more likely to pay off their mortgage faster than non-green dwellers. We trust that other developers in Africa will emulate AMDC,” she said.
Speaking during a virtual press conference, Chairman of AMDC, Dada Thomas, an engineer, explained that the certification by World Bank is another testimony of Alpha Mead’s continued commitment to care for their customers, protect the environment and provide leadership for the industry through its unrelenting investment in global best practices.
The Group Managing Director, Alpha Mead Group, holding company of AMDC, Femi Akintunde, said: “This is very humbling for us and another challenge that we continue charting a sustainability path for Africa’s real estate sector.
“When we ventured into real estate development, we wanted to create functional communities that are safe, secure and comfortable for our customers, without destroying the environment.
“So, we invested in both technology and expertise to demonstrate that this is possible in Africa; and we are glad that IFC EDGE has recognised this. We will always put the environment and sustainability on an equal pedestal as profit.”
“For us, this kind of certification goes beyond recognition; it implies that the whole process as our business strategy revolves around the three cardinal points of people, planet and profit. We want to leave a better world for the future generation.” added the Managing Director, AMDC, Damola Akindolire.